Chrysler, Fiat | featured news

The head of Italian automaker Fiat is considering a plan to hold a public stock offering after the company buys 100 percent of Chrysler, according to a person briefed on the matter.

Fiat SpA, the Italian automaker that controls Chrysler LLC, saw fourth quarter earnings more than double thanks to strong North American sales that more than compensated for a weak performance in Europe.

At Detroit’s annual auto show, the carmaker’s chief executive said he expected the upward sales trend to continue this year, bolstering both Chrysler and its parent, Fiat.

Fiat-Chrysler's third-quarter trading profit was well above forecasts at 851 million euros, with U.S. automaker Chrysler contributing as much as two-thirds of it and helping offset weak European sales.

The Treasury Department said Thursday it has exited its investment in Chrysler LLC after Italian automaker Fiat SpA purchased the U.S. government's remaining holdings in the auto company.

The Treasury Department said on Thursday it reached an agreement to sell its remaining 6 percent equity stake in Chrysler to Italy's Fiat in a deal that will net Washington $560 million.

Chrysler is in the midst of a new-product blitz that includes revamped models of the Grand Cherokee and the 300 sedan, as well as smaller models it will get from Fiat.

Chrysler Group LLC says it will invest $550 million to build the Fiat 500 minicar at its assembly plant near Mexico City.

The Supreme Court on Tuesday cleared the way for the U.S. government-backed sale of Chrysler LLC to a group led by Italian carmaker Fiat SpA, a victory for the bankrupt automaker and the Obama administration.

Italian carmaker says it won't walk away despite opposition to its deal from a small number of creditors.